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Browsing: Loan facility to Equity
The Kenyan bank said it would use the loan to help it increase working capital and trade-related lending to its small and medium-sized enterprise (SME) clients in Kenya, especially those facing COVID-19 related challenges.
The loan from IFC is one of the single-largest credit facilities to a Kenyan lender.
Besides shoring up the bank’s capital base, the new loan will also be lent to customers, fitting IFC’s’ impact investing criteria.
IFC encourages the banks it funds to lend to women-owned enterprises and climate-related ventures such as renewable energy projects.…